Common use of Taxes, Assessments and Liens Clause in Contracts

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and liens upon the Collateral, its use or operation, upon this Agreement, upon any promissory note or notes evidencing the Indebtedness, or upon any of the other Related Documents. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest in the Collateral is not jeopardized in Lender's sole opinion. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Grantor further agrees to furnish Lender with evidence that such taxes, assessments, and governmental and other charges have been paid in full and in a timely manner. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest in the Collateral is not jeopardized.

Appears in 2 contracts

Samples: Commercial Security Agreement (Dougherty's Pharmacy, Inc.), Commercial Security Agreement (Dougherty's Pharmacy, Inc.)

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Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and liens upon the Collateral, its use or operation, upon this Agreement, upon any promissory note or notes evidencing the Indebtedness, or upon any of the other Related Documents. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest Lxxxxx’s Interest in the Collateral is not jeopardized in Lender's Jeopardized In lender’s sole opinion. In any contest Grantor shall defend itself and Lender Lxxxxx and shall satisfy any final adverse judgment before enforcement against the Collateral. Collateral Grantor shall name Lender Lxxxxx as an additional obligee under any surety bond furnished in the contest proceedings. Grantor Gxxxxxx further agrees to furnish Lender with evidence that such taxes, assessments, and governmental and other charges have been paid in full and in a timely manner. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so 90 long as Lender's lender’s interest in the Collateral is not jeopardized.

Appears in 1 contract

Samples: Commercial Security Agreement (Labwire Inc)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and liens upon the Collateral, its use or operation, upon this Agreement, upon any promissory note or notes evidencing the Indebtedness, or upon any of the other Related Documents. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's ’s interest in the Collateral is not jeopardized in Lender's ’s sole opinion. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Grantor further agrees to furnish Lender with evidence that such taxes, assessments, and governmental and other charges have been paid in full and in a timely manner. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's ’s interest in the Collateral is not jeopardized.

Appears in 1 contract

Samples: Commercial Security Agreement (Vista Proppants & Logistics Inc.)

Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and liens upon the Collateral, its use or operation, upon this Agreement, upon any promissory note or notes evidencing the Indebtedness, or upon any of the other Related Documents. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest ’s Interest in the Collateral is not jeopardized in Lender's sole In Xxxxxx’s sale opinion. In any contest Grantor shall defend itself and Lender Xxxxxx and shall shell satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender Xxxxxx as an additional obligee under any surety bond furnished in the contest proceedings. Grantor , Xxxxxxx further agrees to furnish Lender with evidence that such taxes, assessments, and governmental and other charges have been paid in In full and in a timely manner. Grantor may withhold any such payment or may elect to contest any lien if If Grantor is Is in good faith conducting an appropriate proceeding to contest the obligation to pay and end so long as Lender's interest ’s Interest in the Collateral is not jeopardized.

Appears in 1 contract

Samples: Commercial Security Agreement (Labwire Inc)

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Taxes, Assessments and Liens. Grantor will pay when due all taxes, assessments and liens upon the Collateral, its use or operation, upon this Agreement, upon any promissory note or notes evidencing the Indebtedness, or upon any of the other Related Documents. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's ’s interest in the Collateral is not jeopardized in Lender's ’s sole opinion. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Grantor further agrees to furnish Lender with evidence that such taxes, assessments, and governmental and other charges have been paid in full and in a timely manner. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's ’s interest in the Collateral is not jeopardized.

Appears in 1 contract

Samples: Business Loan Agreement (Asset Based) (NYTEX Energy Holdings, Inc.)

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